BEIJING: A cooperation mechanism on foreign law ascertainment of the Belt and Road arbitration institutions was initiated on Wednesday at a forum held in Beijing.
It aims at providing convenience for participating institutions to ascertain the laws of each other’s countries or regions in international commercial cases, said Wang Chengjie, vice chairman and secretary general of China International Economic and Trade Arbitration Commission.
The mechanism has 39 partners, including international arbitration institutions and dispute-settlement organizations from nearly 20 countries and regions worldwide, said Wang, adding that it welcomes more partners.
“We hope to work with all parties to prevent and resolve disputes in Belt and Road trade and investments and nurture a market-oriented and law-based business environment in keeping with international standards,” he said.
